Federal Reserve Board Vice Chairman Janet Yellen is considered a top candidate to replace Ben Bernanke now that Lawrence Summers has withdrawn his name for contention for the Fed's top job.
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Citing what he calls an "acrimonious" confirmation process, Lawrence Summers called President Obama to tell him of his decision not to seek the job of Federal Reserve Chairman Sunday.
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Janet Yellen, vice chairwoman of the Federal Reserve, is under consideration to become the first woman to lead the Fed. President Obama reportedly is likely to choose between Yellen and former Treasury Secretary Lawrence Summers.
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